The symposium has adopted three key instruments to drive and to fast track the pace at which the South African economy grows. These three driving instruments are:

Inclusive Early Stage Entrepreneurship Promotion (IESEP) Model

Collaborative Stakeholder Participation (CSP) Model

Sector Alignment with BRICS Countries (SABC) Model

1. Inclusive Early Stage Entrepreneurship Promotion (IESEP) Model

The model focuses on increasing the South African economic productive capacity. The inclusion of youth and women to participate on the development of our economy is one of the key opportunities that the economy relies on. A particular focus on the development of rural economies giving priority to sectors such as agriculture and agro-processing will achieve quicker results on challenges facing the country’s economy.

In a study conducted by the Global Entrepreneurship Monitor (GEM) in 2012, less that 14% of the South Africa adult population participate on entrepreneurial activities compared to an average 27% of efficiency driven economies. The gap (14% and 27%) can be closed through the promotion of programmes offered by government and its agencies. The below diagram illustrates a sustainable process for the promotion of early stage entrepreneurship, which will have a direct impact on increasing the pool of South Africans that will participate in the economy.

2. Collaborative Stakeholder Participation (CSP) Model

SATITPS facilitate the participation of all key stakeholders with the South African economic cluster to form part of the monthly provincial symposia.

These stakeholders include the following:

National and Provincial Departments for Economic Development

National and Provincial Department of Trade and Industry

Provincial Economic Growth and Development Agencies

Municipalities

National Youth Development Agency (NYDA)

National Empowerment Agency (NEF)

Small Enterprise Finance Agency (Sefa)

Industrial Development Corporation (IDC)

The below diagram illustrates the key stakeholders within the economic cluster. These organisations will continue to play a critical role in providing programmes, policies that contribute to the development of the South African economy.

3. Sectors alignment with BRICS Countries (SABC) Model

The Trade and Investment opportunities provided by the sectors in our provinces also provide opportunities for BRICS countries to trade and invest in our economy. SATITPS has created a platform that enables a direct linkage between BRICS countries and the provinces of South Africa. SATITPS wishes to align its goals and objectives with the following organisations:

DIRCO BRICS Desk

BRICS Business Council

BRICS Country embassies (Trade and Commercial office)

Trade Invest South Africa

The recorded growth on the value of inward investment into the South African economy from the BRICS countries is encouraging. Trade between South Africa and China grew by 32% last year while trade with India rose by 25% and with Brazil by 20%. China totalled R188bn last year. Trade with India was recorded at R55bn, with Brazil at R18bn and with Russia at R3.8bn. SATITPS views the alignment of the South African provincial sectors with BRICS countries as a critical path where direct linkages may be created to enhance the country’s economic development.